Investment under continuous funding system (CFS) at Karachi share market declined by 9.86 percent (Rs 3.33 billion), ending the week at Rs 30.39 billion from Rs 33.72 billion of previous week.
"The CFS investment declined by 9.86 percent as the investor sentiment remained in the negative zone with decrease interest", Khurram Schehzad, senior analyst at Invest Capital & Securities, said.
The CFS rate for the week rose by 181bps to 16.74 percent due to higher rates observed in the T-bills auction. The CFS touched 17 percent post-auction on Thursday on closing basis. The top-5 scrips by CFS investments were NBP, POL, AHSL, DGKC and PPL which cumulatively accounted for 47 percent of the total CFS investment during the week.
Open interest at the futures counter rose slightly by 39bps on weekly basis to close at Rs 15.89 billion. Conversely, futures spread declined by 317bps on weekly basis ending the week at 3.25 percent. The top-5 scrips by futures investment remained JSCL, MCB, Engro, AHSL and ANL cumulatively accounted for 46 percent of the total outstanding open interest.
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